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Can The Government Control Cryptocurrency, As of november 2017 there are roughly 1340 cryptocurrencies with a market capitalisation of roughly $450 billion (when we first published this piece in june it was $114 billion) of which bitcoin makes up about 6. Government can’t shut down cryptocurrency markets, but they can regulate it. As a first step towards answering this question, we need to know that bitcoin and other ico tokens are decentralized.

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Every country treasures its monopoly on controlling the supply and demand. Tuccille | 10.11.2021 9:11 am In fact, it would not be a cryptocurrency if a government issues it.

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Let us take deeper insights into the how’s and whys of it. No one actually controls bitcoin, so governments’ only chance at stopping the rapidly expanding cryptocurrency network is to ban citizens from owning it. Government’s inevitable regulations on bitcoin and other cryptocurrencies, insisting that bitcoin is a mere bubble. On the other side, we have el salvador that adopted bitcoin as legal tender , allowing citizens to use it in all financial transactions. Governments control the economy through central banks, for example the u.s.